Salgado said his homegrown medical cannabis meets the requirements and is having just as much of an impact.

"Certainly from an economic standpoint, we're bigger than green chile. The industry alone will do $45 million this year, and when you compare that to green chile, I believe their numbers came in at $41 million," Salgado said.

Briganti said the goal of the New Mexico True campaign is to attract people from out of state by promoting items that they can enjoy on vacation, and take back home. The problem with medical cannabis is that a medical marijuana card is needed in New Mexico, and is not available to people who live outside the state.

Ultra Health also applied for sponsorship at Balloon Fiesta, but was also denied. The company will be the sponsor of Gathering of Nations for the next five years.